India gold futures trimmed early losses on Friday following higher international markets, but a weaker rupee kept the downside limited, analysts said. Overseas gold edged higher supported by investment demand, with holdings on the ETF hitting another record on safe-haven buying driven by chaos in the banking sector. "Currently there is consolidation witnessed in gold before a breakout," said Vikas Vaid, assistant vice-president at Asit C. Mehta Commodity Services in Mumbai, adding gold staying above 13,000 is building a postive case for the commodity. "If it breaks the resistance level of 13,600, then gold may re-test its all-time high," Vaid added. MCX gold futures on the continuation charts MAUc1 rose to a historic high of 14,320 rupees per 10 grams on Oct. 10 as investors sought safe-haven asset amid a global financial turmoil. Open interest for Feb gold on MCX was at 14,565 lots, down from 14,775 a day earlier. Volume on Thursday was 57.01 kgs.

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